You want to boost your company's market share... so what forms of promotion do you use?

If there was ever a goal that encapsulates the purpose of marketing, it would have to be none other than boosting market share.

That really is why marketing exists; to better connect a business with its market, in order to grow market share.

However one of the biggest misconceptions of marketing is substituting 'promotion' for marketing.

The Foundation of Promotion:

In order to win market share, an organisation requires the strategic components of marketing to be well defined... Things like Opportunity, Product, Brand & Targeting. This should be summed up within a 5 page document that all senior executives are well versed in.

The B2B Distinction:

B2B or business-to-business marketing is very different to B2C or business-to-consumer marketing. It is more sophisticated, as it involves more decision makers, an increased 'business case' component (in additional to emotional buying triggers) and is mostly based on your organisation's influencing power.

High Powered Promotion:

There is no set formula for the ultimate mix of promotion for any business... In fact an effective promotional mix varies extensively from business to business.

High powered promotion is all about ROI or return on investment. Each promotional activity your company is going to invest precious time & money into, should be backed by a solid business case...

Primer Questions to 'Power-Up' your Promotion:

1) What can we expect in terms of lead generation & conversion?
2) How will this activity build more profitable client relationships?
3) What metrics can we assign to measure results?
4)  Are our promotional activities performing as well as they used to?
5) Do we consider proactive promotion an important part of our strategy, or are we content with revenue derived from word of mouth?

Boost market-share through high powered promotion

Published: March 24th 2016